Advisor News

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Appeals court reverses dismissal in NYU lawsuit
RETIREMENT PLANNING AUG 17, 2021
Appeals court reverses dismissal in NYU lawsuit

The development in the 403(b) plan case is considered a victory for the law firm Schlichter Bogard & Denton, which several years ago led a legal crusade against universities and other plan sponsors.

By Emile Hallez
'Guaranteed income' preferred over 'annuities'
RETIREMENT PLANNING AUG 17, 2021
'Guaranteed income' preferred over 'annuities'

The insurance industry recognizes that the word 'annuity' is not always received well. But that's only part of what hampers the products, according to two recent reports.

By Emile Hallez
Fidelity is on TikTok jockeying for Generation Z
FINTECH AUG 17, 2021
Fidelity is on TikTok jockeying for Generation Z

The discount brokerage posts short video clips on the social media app ranging from how-to guides for using the Fidelity Spire app to explainers of financial terminology.

By Nicole Casperson
Candidates for small-firm Finra board seat target regulatory burden
REGULATION AND LEGISLATION AUG 17, 2021
Candidates for small-firm Finra board seat target regulatory burden

Incumbent Paige Pierce and challenger Daniel Logue are competing in the only contested race in the election that concludes on Sept. 1.

By Mark Schoeff Jr.
Direct indexing emerges as must-have tool for tax management, ESG investing
RIA NEWS AUG 17, 2021
Direct indexing emerges as must-have tool for tax management, ESG investing

The trend toward offering customizable indexes puts direct indexing on a track for explosive growth, according to new research from Cerulli Associates.

By Jeff Benjamin
Financial adviser arrested on child pornography charges
REGULATION AND LEGISLATION AUG 17, 2021
Financial adviser arrested on child pornography charges

The adviser, Nicholas Spagnoletti, used his personal cellphone to upload, possess and distribute images of child pornography, according to the Morris County Prosecutor's Office in New Jersey.

By Bruce Kelly
Why the M&A clock is ticking faster than ever
OPINION AUG 17, 2021
Why the M&A clock is ticking faster than ever

Firms interested in selling have increased dramatically, but going into the end of this year, it may be hard to find the specialized contractors needed to complete a deal, like bankers, lawyers and accountants.

By Scott Hanson
Two named to top posts at AIG unit
RETIREMENT PLANNING AUG 17, 2021
Two named to top posts at AIG unit

Bryan Pinsky will lead individual retirement at AIG Life & Retirement, while Tim Heslin will head the U.S. life insurance business.

By InvestmentNews
Sales fintech Seismic pushes valuation to $3 billion
FINTECH AUG 16, 2021
Sales fintech Seismic pushes valuation to $3 billion

The company is designed to personalize sales interactions and has doubled its valuation in a year after fresh funding and a new acquisition.

By Nicole Casperson
The DOL is asking 401(k)s about uncashed checks
RETIREMENT PLANNING AUG 16, 2021
The DOL is asking 401(k)s about uncashed checks

The letters sent to plan sponsors have not included deadlines for recouping the funds, although the DOL is requesting confirmation that the participants are reunited with their money, according to one law firm.

By Emile Hallez
Adviser managing $215 million at UBS moves to RBC
PRACTICE MANAGEMENT AUG 16, 2021
Adviser managing $215 million at UBS moves to RBC

A mother-daughter team led by Cynthia Hansen joins RBC's Denver Tech office.

By InvestmentNews
Congress should continue updating the retirement system
OPINION AUG 16, 2021
Congress should continue updating the retirement system

The SECURE Act 2.0 builds on the success of the original SECURE Act signed into law in 2019 with several commonsense provisions to further help individuals save and invest for their retirement.

By Eric J. Pan
An Atlanta adviser takes pride in serving polyamorous clients overlooked by traditional planners
RIA NEWS AUG 13, 2021
An Atlanta adviser takes pride in serving polyamorous clients overlooked by traditional planners

Michelle Waymire, founder of Atlanta-based advisory firm Young & Scrappy, says her polyamorous niche grew out of a broader focus on the LGBTQ community.

By Jeff Benjamin
401(k) suit claims higher revenue-sharing funds should have been used
RETIREMENT PLANNING AUG 13, 2021
401(k) suit claims higher revenue-sharing funds should have been used

Had Juniper Networks' plan used higher-revenue-sharing share classes, net costs conceivably could have been lower, if those fees were rebated back to participants, according to the complaint.

By Emile Hallez
SEC halts alleged fraud scheme that ripped off New Mexico seniors
REGULATION AND LEGISLATION AUG 13, 2021
SEC halts alleged fraud scheme that ripped off New Mexico seniors

The Securities and Exchange Commission alleges the funds solicited from elderly clients were used on 'lavish personal expenses,' including homes in New York and Santa Fe.

By Mark Schoeff Jr.
Britney Spears’ father agrees to step down as conservator
RETIREMENT PLANNING AUG 13, 2021
Britney Spears’ father agrees to step down as conservator

After 13 years of control over Britney Spears' financial decisions, Jamie Spears has officially volunteered to step away as conservator.

By Nicole Casperson
The future of investing is personal — and it's already here
OPINION AUG 13, 2021
The future of investing is personal — and it's already here

In the past year alone, Goldman Sachs Group Inc., Morgan Stanley & Co., BlackRock Inc. and Charles Schwab & Co. have all expanded their direct-indexing capabilities and are jockeying for the next generation of investors.

By Samir Vasavada
The parallel paths of ETFs and annuities
OPINION AUG 13, 2021
The parallel paths of ETFs and annuities

The questions that RIAs have about commission-free annuities right now are the very same questions they had just 15 years ago about exchange-traded funds, which are now a core part of client portfolios.

By David Lau
SRI or die: Time to get on board the responsible investing trend
OPINION AUG 13, 2021
SRI or die: Time to get on board the responsible investing trend

Advisers aren’t talking to their clients about SRI investing, or if they are, they aren’t taking it seriously — which will ultimately be to their own detriment.

By Peter Krull
GOP challenges SEC chief's bid to regulate cryptocurrency
ALTERNATIVES AUG 12, 2021
GOP challenges SEC chief's bid to regulate cryptocurrency

Rep. Patrick McHenry, R-N.C., argues that Gensler’s appeal to Congress for jurisdiction over cryptocurrency regulation is a 'power grab.'

By Nicole Casperson